| Show WAl J JOLTED l nn AGAIN AGAm Market Ends Third Hectic Hectic Hectic Hec Hec- tic Day Dy Weak NEW YORK TOnE March Mach 3 By the Associated Associated Assod- Assod Press of Press Stupendous Press Stupendous liquidation the so called railroad merger merger shares finally engulfed today's stock stoc market and carried prices down 1 to 28 25 points In an unprecedented volume of trading The maximum I br break took o place e in Nickel NickelPlate NickelPlate Plate ac common n stock which l 1 dropped from last nights night's close of ot to 15 American Can collapsed 16 IG Ih points to and extreme declines delnes of ot 6 G to nearly 13 points took place In General Electric Pittsburg West Vest Virginia common Atlantic Coast Coat Line Louisville Nashville Ward Yard Baking B D and Foundation company The Tho closing cosing was weak Total sales approximated shares NEW NEWYORK YORK March larch 3 By the Associated Asso Asso- elated Press The Press The The stock sok market re received received re- re another terrific terric Jolt jol today when hundreds of or thousands of ot railroad shares were pressed for Cor or sale Rale as a a result of the adverse Nickel Plate decision but bUl sufficient buying support was In evl dence for tor high grade Issues to hold most of them above yesterdays yesterday's low levels during during- the first half hal of the session The rhe first sale of ot Nickel Plate common was a block of ot 1000 shares at 10 an overnight loss Inca lOls of ot 23 points nearly three hours after afler the market had opened Early declines of 1 to 13 1 points In the theother theother theother other Van rails rais were followed by rallies rales of 1 to 6 8 points before 12 1230 30 There was a persistent demand for tor common comm n stock of the Uie Ue Chesapeake Ohio Railroad company whose minority stockholders stockholder successfully contended that the Nickel Plate financial terms were unfair and Inequitable It I advanced over 9 points above last nights night's close dose to after opening at 1 ire Supporting orders order placed for U. U S. S Steel common and other high grade In IndustrIal Industrial industrial In- In Issues and lowering of the call cRI money renewal rate to 4 per cent Indicated Indicated Indi Indi- caterS that bankers and powerful financial finan finan- cial Interests were supporting the mar mar- ket Over two score Industrial Issues advanced 1 to 5 points In the early after after- noon The TIse traders however continued to ferret out weak weal spots subjecting the motors to another terrific attack atack and forcing the liquidation of many weakened weakened weakened weak weak- ened marginal accounts One block of 1000 shares hares of Chrysler changed hands at 40 as against yesterdays yesterday's low of ot 40 but most of the other members of that group appeared to be holding above their previous resistance points Total stock sales In the first three hours of ot trading totaled approximately shares or at a the rate of shares a minute This rate if I maintained maintained main main- to the close will wi establish a new high record for volume In the history of the New ew York stock exchange Prices on the rubber exchange of New Ness NewYork NewYork York broke sharply today the days day's trading limit of 01 points poInt or 5 S cents a pound being reached In three of the options op op- op- op tione shortly shorty after ater noon Owing to the tue fact that trading was WIS restricted here on ot an earlier earler decline of ot 2 J pene pence In the Lond London n market a a special meeting of ot the board of governors was called cled and the limit of ot trading extended from to points Rubber for May delivery delvery dropped 5 cents a pound to cents July July sagged 2 Z cents to 50 cents and September yielded 1 cent to 49 cents a a pound pound 1 |
